An ASIC statement said the case relates to a 2013 decision by the Tennis Australia board to award domestic television broadcast rights for the Australian Open to the Seven Network.

The five-year contract award was made without a competitive tender process.

ASIC is alleging that alongside a Mr Harold Mitchell, Mr Healy “withheld material information from the Tennis Australia board when it made its decision to award the domestic broadcast rights,” and failed to ensure the board was “fully informed about the value of the rights, the interest of parties other than the Seven Network in acquiring those rights and the best method of marketing them.”

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Other allegations were that the pair failed to advise the board that Tennis Australia would have been likely to obtain better terms had the rights been put out to competitive tender and that they had failed in ensuring a sub-committee, that was appointed by the board to advise it on the granting of rights, carried out its role.

A further five allegations have been made against Mr Mitchell alone.

ASIC is seeking a declaration that Mr Healy contravened section 180(1) of the Corporations Act, with pecuniary penalties being sought by Mr Healy alongside Mr Mitchell, as well as disqualification from managing corporations.

The maximum pecuniary penalty able to be ordered against a person for a single contravention of sections 180, 182, or 183 of the act is $200,000, ASIC explained.